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Message: The Gold Report
McCoach gives his views
- Gold has been in consolidation since the early December high of $1226/ounce. The bull picture is still intact. I have given up on trying to analyse it technically because the gold cartel is messing price signals up in the short-term. Technical analysis in the short-term simply does not seem to be effective. The gold cartel knows the technical picture all too well and takes out stop-loss positions easily. As they take the other side of the trade, they are well aware of all the major long/short positions.
- However, they cannot manipulate the trend in the mid to long-term. The fact of the matter is: physical gold is in short supply and it is increasingly difficult for them to deliver physical gold when asked to. I would encourage everyone to take physical delivery and ignore the paper LBMA and COMEX paper gold market. Greg McCoach gives his views on where the gold market is heading to The Gold Report: Use link below
- http://www.theaureport.com/pub/na/5904
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